First Commonwealth Financial Corporation Stock Forecast
First Commonwealth Financial Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The First Commonwealth Financial Corporation stock price gained 0.82% on the last trading day (Thursday, 2nd May 2024), rising from $13.48 to $13.59. During the last trading day the stock fluctuated 1.54% from a day low at $13.42 to a day high of $13.63. The price has risen in 6 of the last 10 days and is up by 6.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 362 thousand shares were bought and sold for approximately $4.92 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Commonwealth Financial Corporation stock with a 90% probability to be traded between $12.50 and $13.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FCF Signals & Forecast
Mostly positive signals in the chart today. The First Commonwealth Financial Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $13.50 and $13.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for First Commonwealth Financial Corporation stock
First Commonwealth Financial Corporation finds support from accumulated volume at $13.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.206 between high and low, or 1.54%. For the last week, the stock has had daily average volatility of 1.91%.
Our recommended stop-loss: $12.97 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (FCF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect First Commonwealth Financial Corporation to open at $13.54, and during the day (based on 14 day Average True Range), to move between $13.26 and $13.92, which gives a possible trading interval of +/-$0.334 (+/-2.46%) up or down from last closing price. If First Commonwealth Financial Corporation takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.61 (0.15%) than the support at $13.53 (0.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is First Commonwealth Financial Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for First Commonwealth Financial Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.919 Buy Candidate Upgraded
Predicted Opening Price for First Commonwealth Financial Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $13.54 ( 0.334%) | $13.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.75 | 1.18 % | |
| R2 | 13.67 | 0.603 % | ||
| R1 | 13.62 | 0.245 % | ||
| Current price: | 13.59 | |||
| Support | S1 | 13.47 | -0.91 % | |
| S2 | 13.42 | -1.27 % | ||
| S3 | 13.34 | -1.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.92 | 2.43 % | |
| R2 | 13.74 | 1.10 % | ||
| R1 | 13.61 | 0.147 % | ||
| Current price | 13.59 | |||
| Support | S1 | 13.53 | -0.442% | |
| S2 | 13.29 | -2.21% | ||
| S3 | 13.19 | -2.94% |
FCF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 02, 2024 | May 17, 2024 | $0.130 | 0.96% |
| 2 | Jan 30, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.125 | 0.95% |
| 3 | Oct 24, 2023 | Nov 02, 2023 | Nov 17, 2023 | $0.125 | 0.94% |
| 4 | Jul 25, 2023 | Aug 03, 2023 | Aug 18, 2023 | $0.125 | 0.93% |
| 5 | Apr 25, 2023 | May 04, 2023 | May 19, 2023 | $0.125 | 0.98% |
FAQ
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